Can Coatings Market Size (2024 - 2029)

The Can Coatings Market is projected to experience growth over the forecast period, driven by the rising demand in food and beverage packaging and the increasing use of aerosol cans in the personal care sector. Despite challenges posed by stringent VOC emission regulations, the market is expected to expand, with opportunities arising from a shift towards eco-friendly packaging solutions. The Asia-Pacific region is anticipated to lead the market, supported by a growing consumer base in countries such as China, India, and those in the ASEAN.

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Market Size of Can Coatings Industry

Can Coatings Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 5.52 Billion
Market Size (2029) USD 6.90 Billion
CAGR (2024 - 2029) 4.50 %
Fastest Growing Market Asia-Pacific
Largest Market Asia Pacific

Major Players

Can Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

Can Coatings Market Analysis

The Can Coatings Market size is estimated at USD 5.52 billion in 2024, and is expected to reach USD 6.90 billion by 2029, growing at a CAGR of greater than 4.5% during the forecast period (2024-2029).

The COVID-19 pandemic hampered the market, as lockdowns, social distances, and trade sanctions triggered massive disruptions to global supply chain networks. The food and beverage industry has witnessed a decline due to the halt in activities. However, the condition has recovered since 2021 and is growing at a significant rate.

  • The increasing demand for food and beverage packaging and the growing usage of aerosol cans in the personal care industry are expected to drive market growth.
  • However, stringent VOC emission regulations are expected to hinder market growth.
  • The growing inclination for eco-friendly packaging coatings is expected to provide opportunities for the growth of the market.
  • Asia-Pacific is expected to dominate the global can coatings market due to the increasing consumer base in the region especially in China, India, and ASEAN Countries.

Can Coatings Industry Segmentation

Food and beverages can preserve the taste and nutritional values of their filling for several years. Cans are typically coated with an organic layer that protects the integrity of the can from the effects of the food and prevents chemical reactions between the can's metal and the food. Coatings are applied to the surface of a can in the form of liquids, gases, or solids. 

The can coatings market is segmented by type, application, and geography. By type, the market is segmented into acrylic, epoxy, polyester, and other types. By application, the market is segmented into beverage cans, food cans, aerosol cans, and other applications. The report also covers the market size and forecasts for the can coatings market in 27 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD).

Type
Acrylic
Epoxy
Polyester
Other Types
Application
Beverage Can
Food Can
Aerosol Can
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Thailand
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Russia
Turkey
NORDIC Countries
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Qatar
UAE
Egypt
Algeria
Rest of Middle-East and Africa
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Can Coatings Market Size Summary

The can coatings market is poised for steady growth over the forecast period, driven by increasing demand in the food and beverage packaging sectors and the rising use of aerosol cans in personal care products. The market experienced disruptions due to the COVID-19 pandemic, but recovery has been robust since 2021. The Asia-Pacific region is expected to lead the market, fueled by a growing consumer base in countries like China, India, and ASEAN nations. The shift towards eco-friendly packaging solutions presents new opportunities, although stringent VOC emission regulations pose challenges to market expansion. The industry is witnessing a transition from traditional epoxy coatings to safer alternatives like acrylic, polyester, and non-BPA epoxy coatings, in response to regulatory pressures and consumer preferences.

The market landscape is characterized by significant investments and expansions by major players, such as Ball Corporation and Lion Beverage, to meet the surging demand for aluminum cans. The increasing popularity of canned beverages, driven by their convenience and sustainability, is further propelling market growth. In the ASEAN region, the burgeoning food and beverage industry, coupled with urbanization and the expansion of retail outlets, is contributing to the rising demand for can coatings. The market is consolidated, with key companies like Akzo Nobel, PPG Industries, and Axalta Coating Systems leading the charge in innovation and capacity expansion. These companies are investing in advanced manufacturing facilities to produce eco-friendly coatings, aligning with global sustainability trends and regulatory requirements.

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Can Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from Food and Beverage Packaging

      2. 1.1.2 Growing Utilization of Aerosol Cans for Personal Care Industry

    2. 1.2 Restraints

      1. 1.2.1 Stringent VOC Regulatory Policies

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Acrylic

      2. 2.1.2 Epoxy

      3. 2.1.3 Polyester

      4. 2.1.4 Other Types

    2. 2.2 Application

      1. 2.2.1 Beverage Can

      2. 2.2.2 Food Can

      3. 2.2.3 Aerosol Can

      4. 2.2.4 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Indonesia

        6. 2.3.1.6 Malaysia

        7. 2.3.1.7 Thailand

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Spain

        6. 2.3.3.6 Russia

        7. 2.3.3.7 Turkey

        8. 2.3.3.8 NORDIC Countries

        9. 2.3.3.9 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Qatar

        4. 2.3.5.4 UAE

        5. 2.3.5.5 Egypt

        6. 2.3.5.6 Algeria

        7. 2.3.5.7 Rest of Middle-East and Africa

Can Coatings Market Size FAQs

The Can Coatings Market size is expected to reach USD 5.52 billion in 2024 and grow at a CAGR of greater than 4.5% to reach USD 6.90 billion by 2029.

In 2024, the Can Coatings Market size is expected to reach USD 5.52 billion.

Can Coatings Market Report Snapshots

Can Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)